BSTDB supports a major Greek industrial company
Press Release | 10-Mar-2010
The Black Sea Trade and Development Bank joined a EURO 120 million syndicated loan facility to Alumil Mylonas S.A, a leading Greek aluminum building materials company.
The BSTDB involvement of EUR 21,9 million is one of the largest participations in the syndicated facility arranged by two leading Greek commercial banks (Alpha Bank and Piraeus Bank) with the remaining amount covered by a group of Greek commercial banks. The proceeds of the facility will be used by Alumil Mylonas S.A. for general funding purposes.
The operation contributes to the implementation of the BSTDB developmental mandate by providing support to a major Greek manufacturer and employer at the time of economic crisis. Moreover, the operation has an important regional development impact, as the Company operates a developed regional network of production facilities in other BSTDB member countries, including Albania, Bulgaria, Romania, Moldova and Ukraine.
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Alumil Mylonas S.A. established in 1978 in Thessaloniki is the leading Greek manufacturer of aluminum products for industrial and architectural use. The Company is listed at the Athens Stock Exchange since 1998. Over the past decade, Alumil developed a dynamic presence in the Black Sea region and international markets by establishing subsidiaries in Greece, Albania, Bulgaria, Romania, Moldova, Ukraine, as well as in other European countries and Middle East.
The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters is in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The recently increased authorized capital of the Bank is SDR 3 billion (approx. USD 4,85 billion). BSTDB is rated Long Term Baa1 with positive outlook and Short Term P2 by Moody’s.
Press Contact
Haroula Christodoulou
Tel: +30 2310 290533
Email: cchristodoulou@bstdb.org